IPO Listed — 03 Sep 2026
Listing Price: ₹150
Kwick Forensic Solutions SME IPO GMP History | Listing Price ₹150 & Kostak Rate
Kwick Forensic Solutions SME IPO has been listed on September 3, 2026 at a listing price of ₹150, against the issue price of ₹90 — a gain of ₹60 (+66.67%). The GMP peaked at ₹85 on 31 August 2026 and reached a low of ₹15 on 20 August 2026. The day-wise GMP trend below shows how grey market sentiment evolved from subscription to listing.
Kwick Forensic Solutions SME IPO raised ₹50.77 Cr. through its IPO at a price band of ₹85 to ₹90 per share, with a lot size of 1600 shares. The IPO was open for subscription from 27 Aug 2026 to 31 Aug 2026.
Table of Contents
GMP Trend Chart
Day-wise GMP Trend
| Date | GMP | ↑↓ | % | Kostak | Sub. Sauda |
|---|---|---|---|---|---|
| 03 Sep 2026 | ₹ 78 | 86.67% | ₹ 0 | ₹ 0 | |
| 02 Sep 2026 | ₹ 78 | 86.67% | ₹ 0 | ₹ 0 | |
| 01 Sep 2026 | ₹ 75 | 83.33% | ₹ 0 | ₹ 0 | |
| 31 Aug 2026 | ₹ 85 | 94.44% | ₹ 0 | ₹ 0 | |
| 30 Aug 2026 | ₹ 70 | 77.78% | ₹ 0 | ₹ 0 | |
| 29 Aug 2026 | ₹ 70 | 77.78% | ₹ 0 | ₹ 0 | |
| 28 Aug 2026 | ₹ 64 | 71.11% | ₹ 0 | ₹ 0 | |
| 27 Aug 2026 | ₹ 64 | 71.11% | ₹ 0 | ₹ 0 | |
| 26 Aug 2026 | ₹ 64 | 71.11% | ₹ 0 | ₹ 0 | |
| 25 Aug 2026 | ₹ 64 | 71.11% | ₹ 0 | ₹ 0 | |
| 24 Aug 2026 | ₹ 64 | 71.11% | ₹ 0 | ₹ 0 | |
| 23 Aug 2026 | ₹ 61 | 67.78% | ₹ 0 | ₹ 0 | |
| 22 Aug 2026 | ₹ 51 | 56.67% | ₹ 0 | ₹ 0 | |
| 21 Aug 2026 | ₹ 43 | 0% | ₹ 0 | ₹ 0 | |
| 20 Aug 2026 | ₹ 15 | 0% | ₹ 0 | ₹ 0 |
Kwick Forensic Solutions SME IPO Dates
| Event | Date |
|---|---|
| Open Date | 27 Aug, 2026 |
| Close Date | 31 Aug, 2026 |
| Allotment Date | 01 Sep, 2026 |
| Refund Date | 02 Sep, 2026 |
| Credit to Demat | 02 Sep, 2026 |
| Listing Date | 03 Sep, 2026 |
Kwick Forensic Solutions SME IPO Actual Listing Price
| Basis | Value |
|---|---|
| Issue Price | ₹90 |
| GMP-Based Estimate (Pre-Listing) | ₹168 (+86.7%) |
| Actual Listing Price | ₹150 (+66.67%) |
| Listing Gain / Loss | +₹60 per share |
| Listing Date | 03 Sep, 2026 |
Is Kwick Forensic Solutions SME IPO GMP Reliable?
Grey market premium for Kwick Forensic Solutions SME IPO should be interpreted with caution. The GMP is an unregulated, unofficial market not governed by SEBI. Here's how to read the current signal:
- Subscription rate matters: A high GMP paired with strong subscription — especially QIB (Qualified Institutional Buyer) oversubscription — is a more reliable bullish signal than GMP alone. Read our in-depth analysis: GMP vs Subscription Data — Which Predicts Listing Gains Better?
- Timing matters: GMP in the first 1–2 days of subscription is less reliable. GMP on the final subscription day and the day before listing tends to be the most accurate predictor.
- Grey market is thin: For smaller IPOs, even a handful of large orders can swing the GMP significantly. Treat low-volume GMP signals with extra caution.
- Cross-check before acting: Review the Kwick Forensic Solutions SME IPO full review for a fundamentals-based assessment before making any grey market trades.
Kwick Forensic Solutions SME IPO IPO Kostak Rate Explained
The Kostak rate for Kwick Forensic Solutions SME IPO was not active during the subscription period, as no grey market premium was established. Kostak is the fixed amount a grey market buyer pays for an IPO application regardless of allotment outcome.
The Subject to Sauda price was not active for this IPO. Subject to Sauda only applies if allotment is confirmed — the buyer pays a premium on top of the issue price per lot allotted.
Grey market trading is unofficial and unregulated by SEBI. Proceed with full awareness of the associated risks.
About Kwick Forensic Solutions SME IPO
On the product side it sells forensic and physical evidence kits, including fingerprint kits, footprint and impression kits, evidence collection kits, ballistics kits and crime scene documentation equipment. It supplies Mobile CSI vehicles, which are fully equipped forensic vans and mobile laboratories, and even motorcycles fitted with scientific kits. It also sells cyber and digital forensic tools used to take out, preserve and study digital evidence from mobiles and computers, and DNA forensic products such as DNA sample collection kits and genetic analysers. On the service side it rents out handheld scanners.
Its customers are mainly government bodies, including police stations, state and central forensic laboratories, fingerprint bureaus, crime investigation departments, police training academies and universities that teach forensic science. Most sales are made through the Government e-Marketplace and other government portals, along with direct quotations and referrals. It has tie ups with global suppliers including Sirchie of the USA, Thermo Fisher Scientific, Invitrogen and Rapiscan Systems.
Strengths & Risks
Strengths
- ✓ Sales have more than tripled in two years. Total income went from Rs 30.26 crore in FY2024 to Rs 65.08 crore in FY2025 and Rs 105.80 crore in FY2026.
- ✓ Profit after tax has grown almost five times over the same period, from Rs 2.83 crore in FY2024 to Rs 8.56 crore in FY2025 and Rs 13.51 crore in FY2026.
- ✓ EBITDA improved from Rs 5.45 crore in FY2024 to Rs 12.25 crore in FY2025 and Rs 19.06 crore in FY2026.
- ✓ The margin is healthy for a products business. Profit after tax of Rs 13.51 crore on total income of Rs 105.80 crore works out to about 12.8%.
- ✓ The company is practically debt free. Borrowing was nil as on 31 March 2026, down from Rs 3.26 crore a year earlier, while net worth rose from Rs 27.90 crore to Rs 41.41 crore.
- ✓ It works in a niche area. Forensic equipment is a specialised field with far fewer suppliers than general trading lines.
- ✓ It has tie ups with established global names including Sirchie of the USA, Thermo Fisher Scientific, Invitrogen and Rapiscan Systems.
- ✓ Its customers are government bodies such as police departments, state and central forensic laboratories and fingerprint bureaus, where the risk of not being paid at all is low.
- ✓ Demand is supported by the push to modernise policing and by the greater use of forensic evidence required under the new criminal laws.
- ✓ It earns from both product sales and equipment rentals rather than from a single stream.
Risks
- ⚠ The growth is from a very small base and is unusually fast. Income went up about three and a half times in two years, from Rs 30.26 crore to Rs 105.80 crore, and such a pace is difficult to keep up.
- ⚠ Almost the whole business depends on government buyers. Orders come through tenders, are lumpy and can be delayed or cancelled by budget decisions.
- ⚠ Selling mainly through the Government e-Marketplace means competing largely on the lowest price, which puts constant pressure on margin.
- ⚠ The company depends on tie ups with foreign suppliers such as Sirchie, Thermo Fisher Scientific and Rapiscan. If any of these arrangements ends, the product range would be affected.
- ⚠ A large part of the business is reselling imported equipment, which brings currency risk and dependence on imports.
- ⚠ Government customers usually pay slowly, which blocks working capital. Rs 31.42 crore of the issue money is going into working capital, which shows how much cash the business ties up.
- ⚠ This is a fresh issue combined with an offer for sale, so a part of the money goes to the selling shareholders and not to the company.
- ⚠ Valuation ratios such as P/E and EPS are not stated in the available offer document data, so the issue cannot be compared with peers on earnings.
- ⚠ Promoter holding will come down from 88.54% to 64.65% after the issue.
- ⚠ This is an SME issue listing on the BSE SME platform. One lot is 1,600 shares, which is about Rs 1.44 lakh at the upper band of Rs 90, and SME shares usually trade in low volume after listing.
Frequently Asked Questions about Kwick Forensic Solutions SME IPO
What is the GMP of Kwick Forensic Solutions SME IPO?
The current Grey Market Premium (GMP) of Kwick Forensic Solutions SME IPO is ₹ 78.
What is the Kostak Price of Kwick Forensic Solutions SME IPO?
Kostak rate is the profit made by selling an IPO application before allotment. The current Kostak rate for Kwick Forensic Solutions SME IPO is currently not available.
What is the Subject to Sauda Price of Kwick Forensic Solutions SME IPO?
Subject to Sauda is the premium amount decided if the allotment is confirmed. The current Subject to Sauda rate is currently not available.
What was the actual listing price of Kwick Forensic Solutions SME IPO?
Kwick Forensic Solutions SME IPO listed on September 3, 2026 at ₹150, against the issue price of ₹90 — a gain of +66.67%.
How did the GMP of Kwick Forensic Solutions SME IPO trend before listing?
The GMP of Kwick Forensic Solutions SME IPO was stable in its final days before listing. The GMP peaked at ₹85 on 31 August 2026. View the day-wise table above for the complete GMP history.
Explore Kwick Forensic Solutions SME IPO Further
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